UK investment bank and private equity group Evans Randall said it has created a 50-50 joint venture with the Bank of Scotland to expand its Luxembourg-based European Property Fund. In addition to subscribing for 50% of the equity in the fund, which has a target value of EUR 1bn, Evans Randall said Bank of Scotland would provide senior and junior debt funding for the fund. The fund will also have the flexibility to raise debt funding from other sources for specific properties.
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